Elevance Health, Inc. (NYSE:ELV) Shares Acquired by &Partners

&Partners increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 125.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,189 shares of the company’s stock after acquiring an additional 661 shares during the period. &Partners’ holdings in Elevance Health were worth $617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. abrdn plc boosted its position in shares of Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after buying an additional 129,364 shares during the period. Cerity Partners LLC increased its stake in Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the period. Canoe Financial LP lifted its holdings in Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after buying an additional 517,116 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Elevance Health during the 4th quarter worth approximately $218,000. Finally, Tower Research Capital LLC TRC boosted its position in Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after buying an additional 16,737 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. Robert W. Baird began coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Barclays boosted their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Jefferies Financial Group raised their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Tuesday, June 11th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and a consensus price target of $607.36.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Down 0.1 %

Shares of NYSE:ELV opened at $534.42 on Monday. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $550.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $124.21 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.18 and a beta of 0.83. The firm has a fifty day moving average price of $532.04 and a 200 day moving average price of $506.97.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $9.46 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 37.2 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.